Shipbuilders’ capacity utilization down sharply, paper says

China’s shipbuilding industry operated between 50 percent and 55 percent of capacity in the first nine months, down from 75 percent last year, China Securities Journal reported Friday, citing sources from the World Shipping Summit. The figure is lower than the international standard. The industry expects to reduce capacity 30 percent by 2015 from 2011 levels, Bao Zhangjing, deputy director of the China Shipbuilding Industry Research Center, was quoted as saying. China Shipbuilding Industry Co. Ltd. (601989.CN) and China CSSC Holdings Ltd. (600150.CN) will play an important role in the consolidation of the industry, the report said.

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